McPier creates new neighborhood - McCormick Square

McCormick Square is Chicago's newest neighborhood, the Metropolitan Pier and Exposition Authority announced on Tuesday.

The authority, also called McPier or MPEA, oversees the McCormick Place and Navy Pier, said the new name comes as new development booms in that pocket of the South Loop neighborhood near East Cermak Road.

"The addition of the Event Center and the Marriott Marquis Chicago, coupled with the Hyatt Regency, McCormick Place, and the exciting tourist attractions planned nearby, McCormick Square is becoming a destination rather than just a building," said McPier CEO Lori Healey in a statement.

"As McCormick Square continues to grow and expand, it will be a boon for our neighborhood, Chicago, and Illinois overall," said Ald. Pat Dowell, 3rd Ward. "This new rebranding will further energize the ongoing revitalization of this new neighborhood that connects with Motor Row, the South Loop corridor, Prairie District and the expanding Bronzeville neighborhood."